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20121129
20121129
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CNBC 11
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CNBC
Nov 29, 2012 4:00am EST
session across the board. again, following what we saw in the u.s. yesterday. take a look at the bond wall here of course we have an italian auction coming up later and italy's ten year, below 4.5% this morning. so price rising. that yield falling. spain also benefiting. that yield down to 5.2%. bunds creeping back up to 1.4% level. let's key in on currency. the aussie dollar despite the broader risk-on attitude a weaker. dollar-yen moving higher 82.13. and the nikkei is adding to its string of gains throughout the month. euro-dollar rebounding off yesterday's trading session to add 0.1%. let's check in on how the asia trading session went overnight and for more, deidre wong morris joins us from singapore. >> well, it was a very good session over here, as well. headline driven. but a good session on the back of that optimism for fiscal cliff talk. all except this glaring spot of red. shanghai composite finishing lower for yet another session. it keeps falling further and further. doesn't seem that there is anything that policymakers or investors can do to lift sentiment in this market
CNBC
Nov 29, 2012 2:00pm EST
u.s. as the world's largest oil producer by 2017. passing russia, surpassing saudi arabia. some critics have said that might be a bit too optimistic. what do you think? how did you reach that conclusion? >> i think this is very, very modest growth we expect in fact from natural states. mainly driven by tight oil, shale oil. if you look at the next years, we expect u.s. shale oil to grow 3 billion barrels per day and this will make u.s. the leader of global oil production overtaking saudi arabia and russia. and at the same time, the natural gas production is also going to increase significantly and as a result of that, we expect u.s. will be the top natural gas producer of the world, around 2015, overtaking russia. >> one of the things that's so key here, you mention unconventionals and the big boom that we're seeing here. but something else that you had in your report that hadn't been mentioned as much is the fuel efficiency that you see helping as well. how much does that contribute to what your forecasts are? >> exactly. when we say that u.s. is making giant steps towards self
CNBC
Nov 29, 2012 3:00pm EST
fundamentals of the u.s. economy. >> maybe, and that's just today, right, ron? >> been since last week. >> we were talking about the market really being so sensitive to any rhetoric out of washington. >> i'm not saying it's not hostage to headlines. we'll get intraday volatility. from the monday before thank giving until now, we have effectively wiped out the losses we saw post-election. >> rick, how do you see it? market complacency, too much angst, are we overthinking this? how do you read the market right now? >> i think that the low volume movements of the equity markets aren't really telling you any information. there's no way even in aggregate a market could decide what's going on in harry reid or john boehner's brain in anything is going on in begin with. if you look at treasuries overlaid on top of equities, until mr. boehner's comments, the treasuries have taken the big picture on all of this. they're not going anywhere fast. fiscal cliff is important, but there's a lot of issues for the next several years that are going to be important to the treasury market. once his comments were
CNBC
Nov 29, 2012 5:00pm EST
worried about europe. middle of the year, it was china. now all of the sudden the u.s. is showing up as not necessarily the safe haven everybody thought it was. so maybe the name of the game at this point is to diversify your country exposure and consumer staples is a good place to be in that type of environment. >> in terms of your target for next year, 2013, it seems to difficult to think about what next year will look like given we don't know what sort of bargain will be reached. hopefully there will be one eventually. your target is 1600, which would imply the 13% up side. is there anything that could happen out of the fiscal cliff negotiations that could cause you to ratchet down that expectation? >> sure. so here's the worst case scenario. we go over the cliff for an extended period of time and that a basically throws us into a global recession, a u.s. recession that bleeds into a global recession. in that case, you know, i would not necessarily be as bullish as i am today. but i actually think that we get our act together. we come up with a reasonable solution. maybe a messy kind
CNBC
Nov 29, 2012 12:00pm EST
gartman. talk to you again soon. >>> what happens to the dollar if lawmakers can't prevent the u.s. from falling off the fiscal cliff? we'll get the worst case scenario when we come back. >>> welcome back. kbw declaring a special $2 a share dividend becoming the latest company in a growing list so far. 174 companies have announced special dividends in november according to s&p. that's a new record. who are some potential issuers on deck? >> goldman sachs back in september put out a note that i think really got this conversation going. the one name they mentioned on there that has not yet done the special dividend is mastercard. doc was talking about it before reaching new levels today. i think mastercard is a name that you could focus on. >> when you own a stock and they announce a special dividend it is great but the problem with chasing them is once the thing goes "x" dividend, typically the price will adjust. it is not necessarily a great short term trade. i'd focus more on consistent dividend paying as opposed to special dividend. >> google's on my list. $50 billion in cash. at least
CNBC
Nov 29, 2012 1:00pm EST
. >>> new positive signs on the u.s. economy to tell you about. it grew faster than expected in the third quarter. gdp expanding at an annual rate of 2.7% topping last month's estimate of 2%. our senior economics reporter steve leisman is here. what struck you about this report? i remember the day before yesterday you were saying don't expect that kind of performance in the fourth quarter. >> exactly. i'll take it. we can get to 2.7%. it is better than 2%. i don't love how we got there. big parts of that was government spending at the federal side. also you had inventories go up. what you didn't have is -- we marked down consumer spending and business spending was negative. i want to do 3%, 3.5%, 4% with strong consumer spending and strong business spending. those will be a sustainable path for the economy. >> can't let you go without a little fed speak. mr. dudley, new york fed chief, speaking this morning. >> some important comments. hurricane sandy was directly in his district so he made some comments about it. he said that the damage was worse than first anticipated. that's some
CNBC
Nov 28, 2012 11:00pm EST
. >>> some decisions, some transactions say more about the u.s. economy than all the other reports throughout. labor, commerce, maybe more than all of them combined. the to booir roll corp for $5 billion is one of those decisions. a lot of different has how old brands over time and take advantage of a good supply chain for soup marke supermarkets, hebrew national, slim jim, swiss miss, brands that were in your mom's cabinets and brands in your kids' cabinets. something happened to big national brands in the great recession. many of them lost their cache. in part because they took prices up year of year after year. why? to please their stockholders and they haven't made as much money selling them like they used to taking up a lot of space. not good business. the endless jaeking up of prices and more profit margins for the stores that sell them. you feel pinched and the supermarket feels priced out, enter private label. at one point they came in black and white cannes and the sup supermarkets tried to adopt this. they want to say, look at me, look at me, i'm cheaper than the other st
CNBC
Nov 29, 2012 6:00am EST
happened since october 2011. u.s. equity futures at this hour actually higher. up by about 65 for the dow, s&p more than 7, and as joe mentioned, the fiscal cliff is still the focus. today treasury secretary tim geithner will be meeting with congressional leaders. first harry reid at about 10:00 and then followed by a session with john boehner, eric cantor, paul ryan and chairman of the house's tax writing ways and means committee dave camp. also lunch with republican senate minority leader mitch mcconnell and nancy pelosi. yesterday a number of high profile corporate leaders met with president obama at the white house, including lloyd blankfein. >> both sides have acknowledge there had is revenue concessions and entitlement concessions. in fact if you listen to it, again, i'm not a master of the political art here, but i would say if you have these point of views in a business context, i would say a deal would be in reach. >> among our guests this morning, we have ron johnson. at the white house today, president obama will host mitt romney for a private lunch. it's their first meetin
CNBC
Nov 29, 2012 4:00pm EST
u.s. high yield, which i still think is valuable. we do think spreads will contract and emerging market equities as well. >> jordan, what about you? how are you preparing for what could be an eventuality where we go over the cliff and we've got to deal with higher taxes and a slower economy? a lot of people expecting recession in 2013, if, in fact, this occurs. >> think about what works well in a slow-growth economy. consumer products companies do well. high dividend payers. you'll see 100 companies that have already declared dividends this month. those are the strongest companies in the market. those are the ones that can afford to buy back shares or invest in high r.o.e. projects next year. i wouldn't avoid them just thinking dividend taxes are going up. they're the strongest in the market. you also have energy infrastructure, which is paying about 6%. most of it is a return of principle. these are companies with some of the lowest cost of capital ever. high return projects, long-term contracts. the government is in support of energy independence in this country, so we don't th
CNBC
Nov 29, 2012 9:00am EST
have of course seen some optimism on the u.s. budget deal. we're also looking at the uptick in gdp data, but we're also watching some technical levels, we have been in this range of $85, $90 for true value. a moving average for copper, momentum in that commodity as well. gold holding it's own after that decline in the last session. right now we're looking at gold above the 1720 level. we'll also be keeping our eye on natural gas, we'll look at that inventory data. >> back to you. >> thank you very much. >>> as talks over the fiscal cliff continue, you will want to hear what republican senator rand paul had to say about deficit reductions and the controversial norquist tax pledge. >>> also ahead -- >> still to come, with the fiscal cliff getting closer. >> if i was involved in a negotiation like that and everybody was purporting to be where they are, i would say an agreement was reachable. >> former centr [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all i
CNBC
Nov 28, 2012 7:00pm EST
they'd face their constituents after the u.s. debt was down graded and if that happened, i thought interest rates would go higher and stocks wouldn't respond well. so it certainly doesn't sound in washington right now that these guys are in any way conciliatory or reaching across the i'll. we just don't know. and that lack of information i think kikts tole volatility. in a lot of people believe that somehow or other both case and difficult difficult ends. to beat the tax hike on dividends, costco, murphy oil, disney, ebay, del, oracle and sh washington bureau. what do you think? should people look up there before they why not take advantage of the lower tax rate. you'd hope they have something better to. >> but if it's cash they don't have an immediate use for. the special dividend makes a lot of sense. you get the horse to walk in the direction of the carrot. knock the stick. so the more you tax something, you don't get more of it. >> that's the whole problem. >> it doesn't make sense. >> the the whole big picture of this thing. i think we pretty much know these investment and sol
Search Results 0 to 10 of about 11